Home > Finance >
Fed Members 'Boneheads' For Not Quickly Cutting Rates

Fed Members 'Boneheads' For Not Quickly Cutting Rates

Scott Gibson | September 12, 2019, 10:30

Fed Members 'Boneheads' For Not Quickly Cutting Rates

U.S. President Donald Trump on Wednesday said the Federal Reserve should lower U.S. interest rates to "zero or less" to help "refinance our debt" with lower interest costs and a longer term, and blamed the U.S. central bank's chief for missing "A once in a lifetime opportunity".

Those who approach monetary policy from a free market perspective mistrust-and see as inherently artificial and manipulative-using Federal Reserve interest rate policy to satisfy short-term political goals.

Last month, however, Trump told reporters at the White House that he did not want to see negative rates in the U.S., and analysts on Wednesday said the still-growing United States economy would be put at risk if the Fed pursued them. He is apparently trying to put pressure on the Fed by calling for a large rate cut before a policy meeting next week. But cutting to zero would be an extreme move reserved only for a severe economic crisis.

Central banks around the world such as the European Central Bank, the Swiss National Bank and the Bank of Japan have below-zero rates as a means to make loans more enticing to stimulate their sluggish economies. "But the Fed can still go too low; and every usual indicator suggests that setting rates at zero, let alone below, would be setting them way too low". "No Inflation! It is only the naïveté of Jay Powell and the Federal Reserve that doesn't allow us to do what other countries are already doing", Trump wrote in a pair of early morning tweets.

While the Fed is not expecting a recession, trade frictions - as well as slower global growth and persistently low inflation - are among the "significant risks" that policy makers are watching, the Fed chair said during a conversation at the University of Zurich on Friday. The stronger dollar tends to make USA exports more expensive.

Editor's note: Should the Fed deploy recession-era monetary policy while the economy is supposedly great and why?

You May Like

After sharing the teaser of the song Teri Meri Kahaani , the makers have finally released the song today in Ranu Mondal's voice. Present at the event were also producers Deepshikha Deshmukh and Kumar Taurani, and Himesh's wife Sonia Kapoor.

He also gave an update on the Nurburgring effort, saying a auto is being tested and tuned, but won't go for a lap time this week. Musk didn't explicitly say Tesla was trying to beat the Porsche's record, but that seemed to be the implication.

The court heard the prime minister was sent a note on 15 August asking if he wanted to prorogue parliament from mid-September. After the ruling, opposition politicians urged the government to scrap the suspension and recall lawmakers to Parliament.

The rise in home runs during recent seasons has been tied to changes in the baseballs that have made them fly farther. Villar's three-run home run off Dodgers' lefthander Caleb Ferguson gave the Orioles a 5-2 lead in the seventh inning.

Astronomers detect the atmospheres by analyzing light from the host star as the exoplanet passes in front of it, or transits. Scientists have detected water vapor in the atmosphere of a "super-Earth" exoplanet with potentially habitable temperatures.

In comparison, the current Samsung Galaxy M30 has a screen resolution of 2210x1080 pixels and is powered by the Exynos 7904 SoC. Samsung has released the new software update just weeks after pushing the August Android security patch to the Galaxy A50.

The report said Apple and Foxconn increased those numbers as a means of offsetting the cost of the US-China trade war. Foxconn Technology Group additionally confirmed the dispatch employee violation following an operational overview.

A search of Zhang's Palm Beach hotel room reportedly uncovered a device meant to detect hidden cameras and almost $8,000 in cash. Zhang claimed "she came to Mar-a-Lago early for the event so she could familiarize herself with the property and take pictures".

The precise nature of the United States offensive against the Taliban that Trump described was not immediately clear. As part of the proposed deal, the United States would withdraw 5,400 troops from Afghanistan within 20 weeks.

Several state attorneys general vowed to continue their legal battles against the company in bankruptcy court and the Sacklers. The deal also includes the company donating drugs now in development for addiction treatment and overdose reversal.

You got to play better. "I told myself to put the goddamn ball inside the court and just breathe as much as I could". The US$3.85 million she earned with Saturday's victory was more than she had envisioned back then, though.

Trump marks 9/11 anniversary with moment of silence
But those who fell ill or were injured, and their families, say having a tribute at Ground Zero carries special significance. Almost 3,000 people were killed in coordinated attacks in NY , the Pentagon, and Shanksville, Pennsylvania.

Control Is Getting Expansions in 2020
An official blog post didn't provide any notable details about photo mode but more info is expected to be revealed soon. While The Foundation DLC will release first on PS4 , the AWE expansion will launch on all platforms at the same time.

Young man impersonates 81-year-old to board flight
When Jayesh Patel was asked to stand up, the screener realized he was likely not who he said he was. "He reluctantly stood up". An Indian man disguised as an 81-year-old was caught trying to board a plane to NY with a fake passport, authorities say.

Daniel Craig spotted in bloodied, bruised look
James Bond is a typical character who already has a recognized franchise, and was always played by male actors. In an interview with journalist he said to see the role of the bond woman would be "touching and exciting".

David De Gea close to signing new Man United deal
According to the Guardian , the Spanish global is finally on the verge of agreeing a new contract with the Mancunian giants. According to English newspaper " The Guardian ", David De Gea is closer to signing a new deal at Manchester United .

Florida teen steals money, hires hit men to kill parents
In a recorded interview, Hatcher shared that she had stolen her parents' debit card and admitted to making the two transaction. CNN reports Alyssa Michelle Hatcher is facing two counts of criminal solicitation for murder; she was charged as a juvenile.